Stock of new properties decreases in 2010

By the end of 2010 the stock of new housing stood at 687,523 properties, a drop of only 0.08% compared to the surplus of 2009, according to the according the the Spanish government . This is the first drop in the level of new build on the market since 2005.

ACCUMULATION OF UNSOLD NEW PROPERTIES

The (minor) drop seen in 2010 continues a trend of the last few years which has seen a decreasing amount of new properties coming onto the market. This combined with the increase in Spanish property sales, is what has lead this decrease.

PERCENTAGE CHANGE OF NEW BUILDS ON THE MARKET

The accumulated stock decreased in 12 regions across Spain, notably in Extremadura (-30.17%), Cantabria (-26.08%) and Navarra (- 17.26%).

Currently approximately 50% of all new properties can be found in the 3 regions as of 2010: Valencia (19.35%), Andalusia (16.33%) and Catalonia (15.03%)

TOTAL PROPERTY STOCK BY COMMUNITY

Regards
Andrew Bellés

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